Alex Nguyen. (LinkedIn Photo) People tell me I don't have company loyalty. But then I ask which companies have employee loyalty. Those two lines are part
‘I’m proud of being a job hopper’: Seattle engineer’s post about company loyalty goes viral::undefined
Industries promote this, especially the publicly traded ones, whether they realize it or not (I’m sure they do). It looks worse on a corporate balance sheet and subsequent earnings quarterly earnings report to pay someone 20% more than to hire someone at a new pay scale. It’s absolutely insane that we’ve gotten ourselves to this point as a society, but here we are.
I don’t understand how it works out for them though. Hiring is so much more expensive than retaining staff, not just the higher salary, but the loss of productivity from losing someone with institutional knowledge and needing to train the new person which can take a really long time to get them up to speed.
Industries promote this, especially the publicly traded ones, whether they realize it or not (I’m sure they do). It looks worse on a corporate balance sheet and subsequent earnings quarterly earnings report to pay someone 20% more than to hire someone at a new pay scale. It’s absolutely insane that we’ve gotten ourselves to this point as a society, but here we are.
I think it’s also very acceptable to have full time contractors on the payroll with no end date for the same reason.
why?
Classify it as non-recurring professional services and it’s an EBITDA addback.
I don’t understand how it works out for them though. Hiring is so much more expensive than retaining staff, not just the higher salary, but the loss of productivity from losing someone with institutional knowledge and needing to train the new person which can take a really long time to get them up to speed.
You see if you slice the cake enough times. There becomes more cake.
That’s called accounting.